SK officials pose for a photo after signing a deal to buy a stake in VinCommerce.
South Korea’s SK Group has acquired 16.3% of Vincommerce, Vietnam’s top retail business operator, for $410 million as part of a move to expand its presence in the Southeast Asian nation’s consumer sector.
SK, Korea’s third-largest conglomerate, said on Apr. 6 that SK Southeast Asia Investment Ltd. has signed a deal to purchase the stake from Masan Group, Vietnam’s food and beverage industry leader.
Vincommerce, a retail subsidiary of Masan Group, operates about 2,300 convenience stores and supermarkets in Vietnam, accounting for roughly 50% of the market in the country.
(courtesy of HYBE Labels)
Top celebrities including BTS, Justin Bieber, J Balvin and Demi Lovato as well as the top management of the two companies expressed enthusiasm over the new partnership in the video uploaded on Apr. 6 by HYBE’s official YouTube channel, HYBE Labels.
“Such great news that leaves us all in awe! Justin Bieber, Ariana Grande, J Balvin! The team behind these and so many incredible artists have come together with HYBE. We hope this new adventure will give fans a fresh experience and be a source of new joy,” said BTS members in the video.
HYBE x Ithaca Holdings celebration video (courtesy of HYBE Labels)
Kakao Corp.’s Japanese unit, which operates Japan’s largest webtoon platform Piccoma, is in talks to attract as much as 500 billion won ($446 million) from Seoul-based private equity firm Anchor Equity Partners.
According to the investment banking industry on Apr. 6, Kakao Japan is seeking investment from Anchor Equity, presenting its enterprise value at between 7 trillion won and 8 trillion won.
Kakao Japan is 78.4% owned by Kakao Corp., one of South Korea’s top content and mobile app operators. Kakao Page Corp. owns the remaining 21.6% of Kakao Japan.
Piccoma, Japan’s largest webtoon platform.
Industry officials said Anchor Equity is considering an investment in Kakao Japan as the Piccoma operator is profitable from its platform business and may pursue an initial public offering in Japan or the US.